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Topgolf (NYSE:MODG) Lowers 2024 Revenue, EBITDA Forecast following Q2 performance

Highlights

Topgolf Callaway Brands Corp. (NYSE: MODG) has a market cap of USD 1.86 billion. It is a golf and active lifestyle company.  Its segments include Topgolf, Golf Equipment, and Active Lifestyle.

In the second quarter of FY24, the company’s net sales declined by around 2% due to a reduction in sales of golf equipment. Net income for the period declined by around 47.1%. It was due to a reduced income tax benefit, lower operating income, and higher interest expenses related to new venues.

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